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Sirius XM Radio and Liberty Media closed the second part of their recently completed deal on Friday, with Liberty completing its $530 million cash infusion in the company.
“We are excited to have closed the second and final phase of our investment agreement with Liberty Media," Sirius CEO Mel Karmazin said as part of the announcement. "It is an example of the confidence our lenders and Liberty have in our business model. These transactions resolve all of the uncertainty surrounding the company’s and its subsidiaries’ debt maturing in 2009."
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